The Globe and Mail reports in its Friday, Nov. 7, edition that TD Securities downgraded Industrial Alliance Insurance & Financial Services ($42.28) to "hold" from "buy" with a price target of $47. The Globe's Darcy Keith, Tim Shufelt and Jody White write that Cormark Securities also downgraded the stock, to "market perform" from "buy," with a price target of $49. Desjardins Securities analyst Michael Goldberg maintained a "buy" rating on Industrial Alliance in The Globe on Nov. 8, 2013. Mr. Goldberg raised his target to $52 from $44.50. The shares were then going for $48.25. RBC Dominion Securities rated Industrial Alliance "sector perform," with a $48 price target in The Globe on Jan. 6, 2014. The shares could then be had for $46.04. The Globe's Craig McGee said Industrial Alliance was poised for growth in the Number Cruncher column on March 20, 2014, when the shares were worth $43.41. Credit Suisse downgraded Industrial Alliance ($47.81) to "underperform" from "neutral" and hiked its price target to $52 from $49 in The Globe on Aug. 1, 2014. The shares were then going for $49.09.